Amer Sports (NYSE:AS) Price Target Raised to $24.00

Amer Sports (NYSE:AS) had its price objective raised by Citigroup from $19.00 to $24.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

AS has been the subject of a number of other reports. The Goldman Sachs Group lifted their target price on shares of Amer Sports from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Nomura Securities upgraded shares of Amer Sports to a “strong-buy” rating in a research note on Tuesday, September 24th. Wells Fargo & Company cut shares of Amer Sports from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $17.00 to $19.00 in a research note on Monday, October 14th. TD Cowen lifted their price objective on shares of Amer Sports from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, UBS Group lifted their price objective on shares of Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Amer Sports presently has an average rating of “Moderate Buy” and an average price target of $19.57.

Amer Sports Price Performance

Shares of NYSE:AS traded down $0.22 during midday trading on Tuesday, reaching $19.70. 76,161 shares of the company were exchanged, compared to its average volume of 1,669,018. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.87 and a quick ratio of 0.81. The business’s fifty day moving average is $17.11 and its two-hundred day moving average is $14.66. Amer Sports has a one year low of $10.11 and a one year high of $20.68.

Amer Sports (NYSE:AS) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.11. The company had revenue of $993.80 million for the quarter, compared to the consensus estimate of $947.59 million. Amer Sports had a negative net margin of 2.79% and a negative return on equity of 0.63%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities analysts expect that Amer Sports will post 0.44 EPS for the current year.

Institutional Investors Weigh In On Amer Sports

Hedge funds have recently modified their holdings of the stock. PDT Partners LLC purchased a new stake in shares of Amer Sports during the 3rd quarter worth about $1,698,000. Verition Fund Management LLC acquired a new stake in shares of Amer Sports during the 3rd quarter worth approximately $301,000. Woodson Capital Management LP bought a new position in shares of Amer Sports during the 3rd quarter worth approximately $12,907,000. Walleye Capital LLC bought a new position in Amer Sports in the 3rd quarter valued at $274,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Amer Sports by 734.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company’s stock valued at $1,288,000 after buying an additional 71,086 shares during the period. 40.25% of the stock is owned by hedge funds and other institutional investors.

Amer Sports Company Profile

Amer Sports, Inc designs, manufactures, markets, distributes, and sells sports equipment, apparel, footwear, and accessories in Europe, the Middle East, Africa, the Americas, China, and the Asia Pacific. It operates through three segments: Technical Apparel, Outdoor Performance, and Ball & Racquet Sports.